Pound edges lower after U.K. exit poll release

LONDON (MarketWatch) -- The British pound edged lower vs. the U.S. dollar, at $1.9034 vs. $1.9065, before the release of an exit poll showing the U.K. Labour Party winning with a much smaller majority of 66 seats -- though above the 60 seat minimum majority Labour was seen needing to win. "It's fairly sterling positive," said Matthew Foster-Smith, an analyst for Thomson IFR. "Sterling should flat line overnight until the general market can gain a feeling of how the U.K. markets see the result," he said.

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